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Notable Quote

"The direct cause of massive unemployment is labour market inflexibility. In fact, state intervention in the labour market and union coercion, made possible by the privileges the legal system confers on unions, results in a series of regulations which make the labour market one of the most rigid."

— Huerta de Soto, Jesús event 1998

From Money, Bank Credit, and Economic Cycles

Context: From Money, Bank Credit, and Economic Cycles (1998), inverting the Keynesian diagnosis; unemployment is not a failure of demand but of supply-side rigidities created by state intervention and legal privilege

Topics

analytics Economics engineering Labor gavel Government Intervention trending_up Free Market menu_book Austrian Economics trending_down Unintended Consequences